Three-Statement Breakdown
FCF DOWN
Free cash flow fell 11% to $1.2B, and covered net income 0.93×.
CASH FROM OPS
-7.5%
1,302
CAPITAL EXPENDITURE
+50.4%
113
FREE CASH FLOW
-10.8%
1,189
FCF / NET INCOME
-29.4%
0.93×
| Cash flow | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | YoY | TTM | 8Q | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income |
|
284 | 325 | 133 | 384 | 406 | 633 | 1,007 | 1,273 | +26.4% | 1,439 | |
| Depreciation & amortization |
NOT DISCLOSED
|
38 | 44 | 47 | 48 | 47 | 52 | — | — | — | — | |
| Cash from operations |
|
271 | 356 | 806 | 319 | 498 | 900 | 1,408 | 1,302 | -7.5% | 1,290 | |
| Cash conversion |
|
0.96× | 1.09× | 6.07× | 0.83× | 1.23× | 1.42× | 1.40× | 1.02× | -26.8% | 0.90× | |
| Capital expenditures |
|
(43) | (48) | (48) | (36) | (49) | (78) | (75) | (113) | +50.4% | (118) | |
| Free cash flow |
|
228 | 307 | 758 | 283 | 449 | 821 | 1,333 | 1,189 | -10.8% | 1,171 | |
| FCF margin |
|
2.8% | 3.3% | 8.6% | 2.9% | 4.1% | 6.5% | 9.2% | 7.0% | -23.5% | 6.3% | |
| Cash from investing |
|
-118 | -345 | -95 | -153 | -141 | -161 | -299 | -874 | — | -88 | |
| Dividends paid |
|
19 | 18 | 18 | 28 | 27 | 33 | 43 | 45 | +3.8% | 58 | |
| Share repurchases |
|
216 | 0 | 113 | 196 | 661 | 128 | 490 | 586 | +19.7% | 423 | |
| Debt repayment |
|
15 | 15 | 287 | 14 | 14 | 246 | 0 | 0 | — | — | |
| Cash from financing |
|
-253 | -19 | -172 | -245 | -710 | -412 | -555 | -664 | — | -757 | |
| Net change in cash |
|
-103 | -6 | 544 | -81 | -366 | 333 | 551 | -228 | — | 437 | |
| Ending cash balance |
|
364 | 359 | 903 | 821 | 456 | 790 | 1,340 | 1,112 | -17.0% | 924 | |
Click a line to select it — Enter or the EXPAND pill folds out its quarter-by-quarter history.
SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM1,333
CASH FROM OPERATIONS-106
CAPITAL EXPENDITURES-38
TO1,189
No bridge for this line yet — select Free cash flow to see its QoQ walk.
↹ CLICK A LINE TO SELECT · ⌘F FIND LINE ITEM
SRC 10-Q FILED 2026-07-30 ↗